The Federal Deposit Insurance Corporation will publish its first stablecoin regulatory proposal later this month, acting chair Travis Hill said. The framework will establish application procedures for issuers under the GENIUS Act, which assigns the FDIC oversight of bank-issued stablecoins. A second proposal on prudential standards is expected in early 2026.

Silver touched a record near $57.86 and has gained over 100% this year, while gold climbed above $4,240 per ounce. Bitcoin has declined more than 30% from its October peak near $126,000 and currently trades around $86,000, with crypto markets losing approximately $1 trillion in value over six weeks.

HashKey Holdings Limited has passed the Hong Kong Stock Exchange listing hearing, moving closer to a public offering. The operator of Hong Kong's largest licensed crypto exchange disclosed the regulatory approval in its Post Hearing Information Pack on December 1, 2025. The company plans to use IPO proceeds to expand its technology infrastructure, product offerings, and international operations.

Grayscale will convert its private Chainlink trust into the first US spot LINK exchange-traded fund, according to Nate Geraci of ETF Institute. Bloomberg Intelligence senior ETF analyst Eric Balchunas projects a December 2 launch date based on internal listings data. The product will offer regulated spot exposure to the oracle token and incorporate staking-related returns where permitted.

Ether could climb approximately 7% to test the $3,200 level as stablecoin yields currently range between 3.9% and 4.5%, according to Santiment. The analytics platform states this yield level indicates the crypto market has not entered overheated territory. The assessment suggests room for additional price appreciation from recent trading levels around $2,990.

South Korea's Upbit discovered a critical wallet software vulnerability while investigating a $30 million theft. The exchange identified a defect that could potentially expose private keys through blockchain data analysis. Upbit has suspended operations and pledged full reimbursement to affected users, though no direct link between the flaw and the November 26 breach has been confirmed.

Bitcoin's current market behavior resembles the extreme risk-reward environment seen in early 2020, according to André Dragosch, head of research at Bitwise Europe. The asset is pricing in a recession-like scenario following recent declines and liquidations, he argues. Dragosch expects global growth may rebound as past monetary stimulus circulates through the system.

The Philippines could develop a $60 billion tokenized asset market by 2030, according to a study by PDAX, Saison Capital, and Onigiri Capital. Equities and government bonds are expected to drive growth, with the analysis showing 14% of Filipinos hold cryptocurrencies compared to less than 5% participating in traditional investments. Tokenized government bonds via PDAX and GCash have lowered minimum investment thresholds to P500, expanding access for smaller savers.

South Korean authorities are investigating a cryptocurrency breach at Upbit that resulted in the unauthorized transfer of approximately $30.6 million in Solana-linked assets. The attack is suspected to involve North Korea's Lazarus Group, according to government and industry sources cited by Yonhap News. Dunamu, which operates Upbit, confirmed the theft and stated it will reimburse all affected users using its own reserves. Withdrawal and deposit services were halted as internal security reviews commenced.